12 Best Big Data Stocks To Buy According to Hedge Funds

9. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 43

Palantir Technologies Inc. (NASDAQ:PLTR) is an American software company focused on big data analytics. The firm makes products for human-driven analysis of real-world data and focuses on creating the world’s best user experience for working with data.

With organizations around the world using Palantir to help them do their most important work, the firm has gained a reputation and has even made it to the S&P 500 based on the strength of its business and the expanding demand for its software. The US market remains the core of the firm’s business and growth, with the US institutions rapidly adopting the firm’s platforms and artificial intelligence capabilities more broadly. Palantir is experiencing an unwavering demand for its advanced artificial intelligence technologies from the US government and commercial customers.

The third quarter was definitely strong for Palantir Technologies Inc. (NASDAQ:PLTR) amidst the unrelenting AI demand from the US. The firm generated the largest profit in the company’s twenty-year history, reaching $144 million in net income. Palantir reported revenue growth of 30% year-over-year while U.S. revenue grew 44% year-over-year. The firm was also successful in boosting its customer count by 39% year-over-year. Thus, Palantir Technologies Inc. (NASDAQ:PLTR) is a leading big data stock that is witnessing accelerating business growth under a U.S.-driven AI revolution. As of Q3, the stock is held by 43 hedge funds.